MAN Seeks Preferential Forex Allocation       The Manufacturers Association of Nigeria (MAN) has called on the Federal Government to ensure that adequate foreign exchange (forex) is allocated to the manufacturing sector through a preferential arrangement to enable the sector import raw materials and machinery that are...

Forex To Be Blamed For Rise In Cooking Gas Price, Says PENGASSAN         The Petroleum and Natural Gas Senior Staff Association of Nigeria has said that the greatest problem causing the rise in the cost of Liquefied Petroleum Gas, popularly called cooking gas, is the fall...

COVID-19, Others Responsible For Naira Depreciation — CBN       The Central Bank of Nigeria (CBN) has disclosed that, COVID-19, shortage in foreign exchange (forex) supply and other factors led to the sharp depreciation of the Naira against the US Dollar. CBN Deputy Governor, Corporate Services, Edward Adamu...

Reps Panel Seeks Forex Availability For Airlines       The Chairman, House of Representatives Committee on Aviation, Nnolim Nnaji, has urged the Central Bank of Nigeria to make foreign exchange accessible to airlines. Nnaji, while addressing aviation correspondents on the sidelines of a conference in Lagos, said making...

CBN Assures Customers Of Banks’ Compliance On Forex Supply       The Central Bank of Nigeria has assured members of the public that it has implemented monitoring mechanisms to ensure that deposit money banks fulfill the legitimate foreign exchange demands of customers. This follows the apex bank’s directive...

Naira Slides To 505/$ As CBN Stops Forex Sale To BDCs     The naira fell slightly to the dollar at the parallel market few hours after the Central Bank of Nigeria on Tuesday announced the discontinuity of forex supplies to the Bureau de Change Operators in...